German wind volume to rise - a warning
The European spot price for Wednesday dropped on Tuesday, as German wind production volumes are expected to double. France is also set for a significant fall in consumption.
The LSEG analyst Naser Hahemi wrote that "residual loads are down in Germany due to the increase in wind energy production." This is an indicator which shows how much conventional power plants can supply after variable renewable volumes have been fed into grids.
LSEG data shows that German day-ahead electricity was 16.1% lower at 112.8 Euros ($117.98 per megawatt hour (MWh) as of 0930 GMT.
French baseload on Wednesday was 118.3 Euros/MWh. This is a decline of 8.5%.
LSEG data forecast that German wind power production would rise from 9.1 GW to 23 GW per day.
The French nuclear availability was lower than the Monday level of 82%.
LSEG data showed that power consumption in Germany will fall by 100 MW on Wednesday to 64.7 GW and in France by 3.2 GW to 61.5 GW.
The German power contract for the year ahead was 1.7% lower at 88.5 Euros/MWh, while the French baseload contract for front-year was 0.2% less at 66.0 Euros/MWh.
Dutch gas prices fell sharply Monday due to easing of supply concerns.
Geopolitics and the ongoing growth of renewable energy capacity, LNG landing capacities and falling demand in an industry that is suffering from a recession are all factors.
The benchmark contract on the European carbon markets was down by 0.3%, at 77.02 Euros per metric ton.
Axpo, the Swiss nuclear operator, has announced that it will no longer be buying uranium from Russia.
Since 2022, non-Russian fuel reserves have helped the company to survive.
(source: Reuters)
